The Regulatory Burden
The cost of complying with federal regulations falls most heavily on companies with fewer than 20 employees. These very small firms pay $7,647 per employee per year to stay in compliance, substantially more than the $5,282 per employee spent by much larger firms.
Building Information Modeling Gaining in Popularity
Over a third of construction project and program owners stated that they have used Building Information Modeling on one or more of their projects, according to a recently released survey conducted by the Construction Management Association of America and FMI. Building Information Modeling involves the creation of digital information about a building project, which is used for design decision-making, the production of construction documents, cost estimating, construction planning, and, ultimately, managing and operating the facility.
Audit Chances
The IRS 2006 Data Book shows that the percentage of partnership returns that were audited by the IRS rose from 0.26% in 2004 to 0.36% in 2006, while the percentage of S corporations that were audited doubled over the same period, rising from 0.19% in 2004 to 0.38% in 2006. The audit rate for corporations under $10 million in assets rose from 0.32% in 2004 to 0.80% in 2006, while the audit rate for corporations with $10 million or more in assets jumped from 16.74% to 18.60%.
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